Secondhand car price crash? (Vol. 2)

[chip*]

buyerandseller said:

That's not at all what he said, read again.

Thank you.
Been on PH long enough to know when to press the ignore button (which is most of the time : )

[Deep Thought]

chip* said:

buyerandseller said:

That's not at all what he said, read again.

Thank you.
Been on PH long enough to know when to press the ignore button (which is most of the time : )

You've an ignore button?

How do i enable that?

[mk1coopers]

MB140 said:

Ultimately after spending 3 months looking I asked myself one evening in the pub with the Mrs (who is a car nut and wants me to buy the Alfa) what am I getting by taking £35k out of savings to buy a car (currently making 5.5% on an isa).

So in the end. I will run it until it becomes uneconomical to do so.

I've also gone through this thought process and come to the same conclusion, keeping my current 13 year old car rather than spend similar money. The only recent change is a much closer new work location that won't really suit the diesel I've got, so a change to petrol makes sense now, though if I'm being totally honest the commute would really suit an EV, which isn't going to happen due to personal preference.

In full PH mode the first thing I thought about changing to was a petrol V8 or V6 I've now self imposed a 'settling in' period for the new job so will stop looking for a while as that's dangerous territory

[Kerniki]

This is a chunk of my current car searches, out of all of them, only 2 or 3 have sold and only 1 added, in the last 4 weeks

[drgoatboy]

Kerniki said:

This is a chunk of my current car searches, out of all of them, only 2 or 3 have sold and only 1 added, in the last 4 weeks

But the higher end and unusual in the market work at a much much slower pace so it may not be that unusual

[AlexNJ89]

Kerniki said:

This is a chunk of my current car searches, out of all of them, only 2 or 3 have sold and only 1 added, in the last 4 weeks

Not a time of year thing?

[Si_man306]

AlexNJ89 said:

Not a time of year thing?

Last year in January I was after a specific top end car (80-100k ish listing price). There were a large number available, maybe 15 the exact spec I wanted. Sadly the ones I was after fell through so have continued looking, very few cars all year and now January again- I had hoped to see a similar trend in numbers. Nothing. The cars are also around 2016-2021 so can't see one year has made a difference. Just odd.

[Wilmslowboy]

A couple of common themes coming through from the youtube car dealers.

January been a good month for sales and getting more difficult to get hold of good stock.


Hopefully a good sign for the wider econmy.

[Theoldguard]

Various news articles doing the rounds this week about how much discount is now being commonly offered on new cars, not just electric either. Lower new prices have in the past had a knock on effect on the nearly new and used market, which can only be a good thing for those in the market for a newer used car.

I got my eye on an EV6 GT, been following the prices down and now can get pre reg (facelift) for mid £40k, and 2 year old for just over £30k, not bad on a £60k car.

Prices defo heading in the right direction for me at least

[Early-bird]

Theoldguard said:

Various news articles doing the rounds this week about how much discount is now being commonly offered on new cars, not just electric either. Lower new prices have in the past had a knock on effect on the nearly new and used market, which can only be a good thing for those in the market for a newer used car.

I got my eye on an EV6 GT, been following the prices down and now can get pre reg (facelift) for mid £40k, and 2 year old for just over £30k, not bad on a £60k car.

Prices defo heading in the right direction for me at least

The electric do shed value fast in the early years it's true, problem is although the rate slows it's starting from such a high base even used purchases tank more quickly. Only viable option on electric is leasing ideally via salary sacrifice. ICE undoubtedly will hold value better and you're unlikely to offset that unless doing crazy mileage where home charging will be cheaper (for now at least until they move the goalposts as we saw with the per mile taxes due in 2027)...

[Sheepshanks]

Theoldguard said:

I got my eye on an EV6 GT, been following the prices down and now can get pre reg (facelift) for mid £40k, and 2 year old for just over £30k, not bad on a £60k car.

I’ve seen a few exceptions, but dealers are looking for big margins on EVs. Put one of those cars into WBAC and see what they offer - bet it’ll be very low £20’s.

[Deep Thought]

Sheepshanks said:

Theoldguard said:

I got my eye on an EV6 GT, been following the prices down and now can get pre reg (facelift) for mid £40k, and 2 year old for just over £30k, not bad on a £60k car.

I ve seen a few exceptions, but dealers are looking for big margins on EVs. Put one of those cars into WBAC and see what they offer - bet it ll be very low £20 s.

That has probably as much to do with WBAC not particularly wanting the car, as they know it'll be hard to predict the auction value accurately.

Dont forget, WBAC are not representative of trade values, they're auction trade price - their overheads - their profit margin - varying element for risk.

Anything thats not mainstream - EV or ICE - and they'll bid low.

[ChocolateFrog]

There might be quite a few people interested in an EV6 in the sub £20k bracket.

They do look like a lot of car for that sort of money.

How hard can it be to replace an ICCU?

[Sheepshanks]

Deep Thought said:

That has probably as much to do with WBAC not particularly wanting the car, as they know it'll be hard to predict the auction value accurately.

Dont forget, WBAC are not representative of trade values, they're auction trade price - their overheads - their profit margin - varying element for risk.

Anything thats not mainstream - EV or ICE - and they'll bid low.

I found when looking at used EVs that WBAC and CAP HPI valuations were generally near-as-dammit the same.

[Deep Thought]

Sheepshanks said:

I found when looking at used EVs that WBAC and CAP HPI valuations were generally near-as-dammit the same.

That would surprise me greatly, bearing in mind WBAC will moreoften take it straight to auction and thus need to buy below CAP trade to make money.

I plugged one of the above EV6 in to WBAC and CAP HPI respectively -

https://www.autotrader.co.uk/car-details/202601139...

WBAC - £25,440

CAP HPI trade value - £27,630

BUT - to your original point, i would concur dealers expect / want bigger margins on EVs.

Edited by Deep Thought on Saturday 31st January 15:15

[Doesitdrive]

Wilmslowboy said:

A couple of common themes coming through from the youtube car dealers.

January been a good month for sales and getting more difficult to get hold of good stock.


Hopefully a good sign for the wider econmy.

Your comments are true, but a good sign for the wider economy?

Not when it is big business controlling the car market and shareholders are taking all the profits.

[Deep Thought]

Doesitdrive said:

Your comments are true, but a good sign for the wider economy?

Not when it is big business controlling the car market and shareholders are taking all the profits.

What big business is controlling the car market?